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Global Negative Pressure Wound Therapy Devices Market to Expand as Chronic Wounds Become More Prevalent: Fortune Business Insights
The global negative pressure wound therapy devices market is poised for an impressive growth trajectory owing to the rising prevalence of chronic wounds. Chronic wounds are wounds that the body has been unable to repair or heal through its normal anatomical functions. Typically, any would that lasts more than 3 months is termed as chronic. Since these wounds mainly affect old people, a rising geriatric population will aid the global negative pressure wound therapy market growth during the forecast period. According to the Wound Healing Society, the US government estimates that the number of aged people in the US will reach 55 million by 2020. This will push up the demand for wound therapy devices and fuel the global negative pressure wound therapy devices market revenue till 2026.Request Sample Report:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/negative-pressure-wound-therapy-npwt-market-101243
Fortune Business Insights has published a report, titled "Negative Pressure Wound Therapy (NPWT) Devices Market Size, Share and Global Trend By Type (Conventional NPWT devices, Single-use NPWT devices), By Application (Chronic Wounds, Acute Wounds), By End Users (Hospitals, Clinics, Home Care Settings, Others), and Geography Forecast till 2026", which contains meaningful insights regarding the factors, trends, competitors, opportunities, and regions that will stoke the dynamics of the market for negative pressure wound therapy.
Negative Pressure Wound Therapy (NPWT) refer to powered or non-powered devices that employ the use of suction or negative pressure to promote wound healing. Therefore, NPWT systems are also referred to as Vacuum-assisted Wound Closure (VAC). The suction method helps in removing excess material such as bodily fluids, wound exudate, infectious stuff, and irrigation fluids. Mechanical NPWT (non-powered variety) devices are primarily used to treat traumatic, chronic, acute and dehisced wounds, pressure ulcers, grafts, diabetic ulcers, and skin flaps. Powered NPWT devices are used in case of larger wounds and wounds which require larger amount of drainage.
Negative Pressure Wound Therapy (NPWT) Devices Market Segmentation
By Type
By Application
By End User
By Region
Rise in Incidence of Diabetes-Linked Chronic Wounds to Boost the Market
The International Diabetes Federation estimates that currently 8.8% of the world's population, around 424 million people, are suffering from diabetes. By 2045, this number is expected to reach 628 million, that is, about 9.9% of the population. In the US alone close to 100 million people are either diabetic or are in the prediabetes phase in 2018, as per the Centres for Disease Control and Prevention statistics. Chronic wounds such as foot ulcers are commonplace among diabetics and as the number of diabetics in the world increases, the demand for NPWT devices will shoot up correspondingly. This will accelerate the expansion of the global negative pressure wound therapy devices market size during the forecast period.
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Adoption of New Medical Technologies to Spur the Market in North America
Regionally, North America and Europe are projected to hold the largest chunk in the global negative pressure wound therapy market share in the coming decade. The main reason cited for this is the ready adoption of new therapeutic technologies and sturdy healthcare infrastructure in the continents. A rapidly evolving healthcare sector and rising prevalence of chronic diseases are factors that enable Asia-Pacific to register a relatively high CAGR during the forecast period in the global negative pressure wound therapy devices market.
ConvaTec's AVELLE NPWT System Gets FDA-Approved, Builds Confidence in the Market
AVELLE negative pressure wound therapy device, developed by ConvaTec, is the first NPWT system to be embedded with HydroFibre technology and it got the green light from the US FDA in October 2018. Such regulatory clearances to novel products are expected to instil confidence among the participants in the global negative pressure wound therapy devices market. For example, Medela AG launched its NPWT dressing system, Invia FitPad, which comprises a portfolio of dressings and devices, aimed at aiding healthcare professionals to manage and deliver NPWT more efficiently.
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Fortune Business Insights profiles some of the important competitors in the global negative pressure wound therapy devices market:
Cardinal Health
Smith and Nephew
Paul Hartmann AG
ConvaTec Group PLC
Medela AG
Lohmann & Rauscher GmbH & Co.
KCI Licensing
KEY QUESTIONS ANSWERED:
What is the market size and growth rate of the global and regional market by various segments?
What is the market size and growth rate of the market for selective countries?
Which region or sub-segment is expected to drive the market in the forecast period?
What Factors are estimated to drive and restrain the market growth?
What are the key technological and market trends shaping the market?
What are the key opportunities in the market?
What are the key companies operating in the market?
Which company accounted for the highest market share?
Why Choose Fortune Business Insights?
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Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
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